Quick Take
- Strategy has purchased another 334 BTC for approximately $28.7 million at an average price of $85,838.80 per bitcoin, bringing its total holdings to 848,000 BTC.
- The latest acquisitions were funded by proceeds from the issuance and sale of the company’s Class A common stock, MSTR, and its USD Cash reserve.
Bitcoin (BTC) treasury company Strategy (MSTR) acquired an additional 334 BTC for approximately $28.7 million at an average price of $85,838.80 per bitcoin between Sept. 28 and Oct. 4, according to an 8-K filing with the Securities and Exchange Commission on Monday.
Strategy now holds 848,000 BTC — its highest-ever total, worth around $73 billion — bought at an average price of $75,440.70 per bitcoin for a total cost of around $64 billion, including fees and expenses, according to the company's co-founder and executive chairman, Michael Saylor.
To put that in perspective, Strategy's holdings are equivalent to more than 4% of bitcoin's 21 million supply cap, and imply around $9 billion of paper gains at current prices.
Strategy made the latest acquisitions using proceeds from at-the-market sales of its Class A common stock, MSTR, and its USD Cash reserve. Last week, Strategy sold 92,894 MSTR shares for approximately $15.7 million. As of Oct. 4, $18.8 billion worth of MSTR shares remain available for issuance and sale under that program, according to the filing. Strategy's USD Cash holdings covered the remaining $13 million cost.
Strategy also repurchased 1.77 million STRC preferred shares last week for around $176.3 million. The latest acquisitions used $154.1 million of the company's USD Cash reserve and $22.2 million were funded using interest earned on Strategy's cash, cash equivalents, and short-term investments. The firm also used $142.5 million of its USD Reserve to fund dividends on its preferred stock and interest on its outstanding indebtedness.
As of Oct. 4, the balances of its USD Reserve and USD Cash were $4.88 billion and $833.4 million, respectively, the firm said.
'More Orange Than Ever'
Saylor posted another Strategy bitcoin acquisition tracker chart to X on Sunday with the caption "More orange than ever." Similar posts have typically preceded bitcoin acquisition announcements the following day, though the company's strategy has varied recently.
Per Bitcoin Treasuries data, 196 public companies have adopted some form of bitcoin acquisition model. Metaplanet, Tether-backed Twenty One, MARA, and Adam Back and Cantor Fitzgerald-backed Bitcoin Standard Treasury Company make up the rest of the top 5, with 44,000 BTC, 43,514 BTC, 35,577 BTC, and 30,021 BTC, respectively.
Strategy's stock fell 7.1% last week, closing Friday at $160.01, according to The Block's MSTR price page. MSTR is up 0.5% year-to-date after a substantial recovery, though still 48% down over the past year. Bitcoin traded flat over the same period last week.
